Maurel & Prom reports 17% revenue increase for first nine months of 2026

French oil operator Maurel & Prom (M&P) reported a 17% year-on-year increase in consolidated revenue for the first nine months of 2026, reaching $574 million. The company’s valued production rose by 32% to $521 million, driven by an average oil selling price of $98.8 per barrel, a 40% increase compared to 2025.

In Gabon, revenue reached $345 million. While production at the Ezanga permit fell by 10% due to a scheduled shutdown and water injection issues, the company successfully completed a 575 km seismic acquisition campaign. Discussions are also progressing regarding the development of the Etekamba gas license, with drilling potentially starting in 2027.

In Angola, revenue totaled $93 million. Although production decreased by 9%, the Pacassa South West well confirmed the presence of oil with a 136-meter column and estimated volumes of approximately 70 million barrels. Production from this site is expected in the first quarter of 2027.

Additionally, M&P reported a gas reservoir discovery at the Kasa-1X well in Tanzania, with production targeted for November 2026. The company is also finalizing the acquisition of Gran Tierra assets in Colombia and Ecuador, expected to close by December 31, 2026.